Throughout the last three decades, Irish firms have seen sales grow, relationships become stronger and awareness of Ireland increase in China year after year. The sheer size of China’s economy provides a wealth of opportunities for determined Irish companies.
There are a growing number of young professionals with significant disposable income in the major coastal cities who aspire to higher standards of living. Also, in their drive to address export markets, Chinese businesses are developing an appetite for technology, systems and infrastructure that cannot be satisfied by domestic suppliers.
With this in mind, Enterprise Ireland have comprised a report in order to assist SME’s in exploring the Chinese market as an export opportunity. This strategy called “Access: China” is intended to be of use to a wide audience, from companies thinking of exporting to China for the first time, to those already selling in the market and wishing to examine strategic options for further growth.
Before entering the Chinese market, Irish enterprises, like any foreign entities, need to be on the top of their game in Ireland with market proven performance. Comprehending the current market dynamics as to what qualities are in demand, why are they not being currently served, and what price points the market will accept to fulfil them is highly important.
SMEs with limited budgets for branding and marketing often turn to regional agents or distributors to create a sales network. These agents and distributors bring their existing sales networks and can be helpful in terms of responding quickly to market changes and keeping track of policy and regulation updates. Many of the larger Chinese trading companies have offices abroad, as well as a significant network throughout China.
Before you begin the steps to entering the Chinese market, Enterprise Ireland can help you by providing:
- A sector overview
- A validation of the opportunity for your product/service
- An evaluation of your market entry strategy
- Suggested channels to market
- Competitor analysis
- Relevant contacts/suggested itinerary
- Summary of relevant market information resources
If you are already in the market, you may benefit from:
- Introductions to buyers and decision- makers
- Identification of potential partners j Facilitation of buyer visits to Ireland j Assistance with product launches/workshops
- Securing reference sites
This article contains select extracts from a larger document that was compiled by Enterprise Ireland and outlines more information in detail. To read more on this please see the full report at https://www.enterprise- ireland.com/en/Export-Assistance/Market-R esearch-Centre/AccessChina.pdf